Canada plans to impose tariffs on $155 billion worth of U.S. goods in response to U.S. tariffs
Canadian Prime Minister Justin Trudeau stated that Ottawa would immediately introduce retaliatory tariffs on U.S. goods if Washington's new tariffs come into effect.
Photo: Number 10, CC BY 2.0
Canadian Prime Minister Justin Trudeau announced that Ottawa would impose retaliatory tariffs on U.S. goods worth $155 billion if Washington implements a new package of tariffs against Canadian products, reports Interfax-Ukraine.
This statement came after the U.S. administration, led by President Donald Trump, decided to impose 25% tariffs on imports from Canada and Mexico, along with additional 10% tariffs on Chinese goods.
According to Trudeau, Canada’s countermeasures will take effect immediately: in the first phase, tariffs will apply to products worth $30 billion, while the remaining $125 billion will be subject to restrictions within three weeks.
The Canadian Prime Minister emphasized that the U.S. actions have no justification, as Ottawa has already implemented strict measures to combat fentanyl trafficking.
He stated that from December 2024 to January 2025, the flow of this drug from Canada to the U.S. decreased by 97%.
Trump, on the other hand, insists that the new tariffs are necessary due to Canada and Mexico’s insufficient efforts in combating fentanyl smuggling.
Washington claims that the drug continues to enter the country through both northern and southern borders despite increased control measures.
The U.S. tariffs could be officially announced as early as Tuesday. If enforced, the economic standoff between North America's two largest trading partners could escalate significantly.
Earlier, Donald Trump announced the imposition of 25% tariffs on steel and aluminum imports, which threatens to heighten trade tensions between the U.S., Canada, Mexico, and the European Union.